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Timewitch

Thinking of doing a DMP

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Hi there

 

I am thinking of starting a DMP with PayPlan but have a couple of questions.

 

I have a couple of debts that are quite old now - just under 6 years and I am no longer being chased for payment on them. I understand that these debts are unenforcable after 6 years. So should I declare them as part of my DMP?

 

I also have a credit card that although is personal I use exclusively for business travel and pay it off when my expenses are paid - it is completely up to date. Do I need to declare this as part of my DMP?

 

Any advise appreciated.

TW

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Hi, sorry you were missed.

 

Hi there

 

I am thinking of starting a DMP with PayPlan but have a couple of questions.

 

I have a couple of debts that are quite old now - just under 6 years and I am no longer being chased for payment on them. I understand that these debts are unenforcable after 6 years. So should I declare them as part of my DMP?

YOU tell the DMP what you want to add. If you add the ones that are near SB, that is an acknowledgement of the debt and resets the SB clock to zero

 

I also have a credit card that although is personal I use exclusively for business travel and pay it off when my expenses are paid - it is completely up to date. Do I need to declare this as part of my DMP?

A DMP is to sort out your debts so I would think that you could mention it but not to add it to the DMP

 

Any advise appreciated.

TW

It may be easier to wait until the debts that are near the SB are over the finishing line-so to say.


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Hi Timewitch

 

I would list everything that your making payments on, the old debts are clearly in dispute as they haven't been paid. DMP aren't my strong point, just wait for the experts to confirm before taking any action, they will respond. Try to stick to one thread.

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